CIMB FastSaver

katana71 · Dec 19, 2020

testingabc said:
lucky i already move to RHB High Yield few months back le

I also RHB... also kena cut

saintgtril · Dec 19, 2020

Hi, with the further cut starting on 15/1/2021, what is the maximum sum one can park under this account for the highest possible interest?

Is it 75K for 0.3% interest? Thanks!

vsvs24 said:
Received email today. Is this another cut or announced before?

https://www.cimbbank.com.sg/content...cimb-rates-revision/jan-notice/index-web.html

GameTheory said:
Looks like another cut ?

lzydata said:
New announcement

fadefade · Dec 19, 2020

saintgtril said:
Hi, with the further cut starting on 15/1/2021, what is the maximum sum one can park under this account for the highest possible interest?

Is it 75K for 0.3% interest? Thanks!

already calculated for u.. whole year with 100k :s22:

maumu · Dec 19, 2020

usually such vanilla products the interest rates will increase the more you put (up to maybe $100k or $200k).

now they're discouraging you from putting in beyond $75k. or even $50k.

not sure is they're just too loaded with cash or is some regulation by MAS... -.-

saintgtril · Dec 20, 2020

Thanks fadefade. That means from 15/1/2021 onwards, it is 0.3% (highest possible interest) for $75,000 (maximum sum).

saintgtril said:
Hi, with the further cut starting on 15/1/2021, what is the maximum sum one can park under this account for the highest possible interest?

Is it 75K for 0.3% interest? Thanks!

fadefade said:
already calculated for u.. whole year with 100k

bigrooster · Dec 21, 2020

Did RHB also recently cut their rates on high yield savings account?

Was trying to access their website but instead got the following:

403 ERROR

The request could not be satisfied.

Request blocked. We can't connect to the server for this app or website at this time. There might be too much traffic or a configuration error. Try again later, or contact the app or website owner.
If you provide content to customers through CloudFront, you can find steps to troubleshoot and help prevent this error by reviewing the CloudFront documentation.
Generated by cloudfront (CloudFront)
Request ID: xxxxxxxxxxx

ekardo · Dec 21, 2020

bigrooster said:
Did RHB also recently cut their rates on high yield savings account?

Was trying to access their website but instead got the following:

403 ERROR

The request could not be satisfied.

Request blocked. We can't connect to the server for this app or website at this time. There might be too much traffic or a configuration error. Try again later, or contact the app or website owner.
If you provide content to customers through CloudFront, you can find steps to troubleshoot and help prevent this error by reviewing the CloudFront documentation.
Generated by cloudfront (CloudFront)
Request ID: xxxxxxxxxxx

this is cimb thread dude...

bigrooster · Dec 21, 2020

ekardo said:
this is cimb thread dude...

I know.

It is because of the recent cuts in rates by CIMB Fastsavers that prompted the comparison of rates from other banks' similar products. Look at this thread; I am not the first to ask about equivalent banking products from other banks. No?

vsvs24 · Dec 21, 2020

bigrooster said:
I know.

It is because of the recent cuts in rates by CIMB Fastsavers that prompted the comparison of rates from other banks' similar products. Look at this thread; I am not the first to ask about equivalent banking products from other banks. No?

The people here might not know. There is a thread for RHB High Yield. Better to ask there.

https://forums.hardwarezone.com.sg/money-mind-210/rhb-high-yields-savings-account-5809822-38.html

bigrooster · Dec 22, 2020

vsvs24 said:
The people here might not know. There is a thread for RHB High Yield. Better to ask there.

https://forums.hardwarezone.com.sg/money-mind-210/rhb-high-yields-savings-account-5809822-38.html

Thanks. I ask here because few posts down there was a user who mentioned putting $ into RHB High Yield instead of FastSaver.

Ok, I will stop posting anymore non-CIMB Fastsavers topic in this thread.

ducky32 · Jul 4, 2021

SIC

CIMB FastSaver is now offering 1% interest on the first $10k, if you sign up for their Visa Signature Card. There is no annual fee for the card.

The promotion is 1 year long. From 1 Jul 2021 to 30 Jun 2022.

You can read the T&C below.
https://www.cimb.com.sg/content/dam...astsaver-fastsaver-i-visa-signature-promo.pdf

ashethen · Jul 4, 2021

ducky32 said:
SIC

CIMB FastSaver is now offering 1% interest on the first $10k, if you sign up for their Visa Signature Card. There is no annual fee for the card.

The promotion is 1 year long. From 1 Jul 2021 to 30 Jun 2022.

You can read the T&C below.
https://www.cimb.com.sg/content/dam...astsaver-fastsaver-i-visa-signature-promo.pdf

Wah nice. I got the card & account years ago, I still qualify right?

ducky32 · Jul 4, 2021

ashethen said:
Wah nice. I got the card & account years ago, I still qualify right?

I believe so! On point 1 of the T&C, it says that this promotion applies to both new and existing customers who hold the account and card

wutawa · Jul 5, 2021

Is it difficult to cancel the visa signature card? Need to write in and mail back the card...

ducky32 · Jul 5, 2021

wutawa said:
Is it difficult to cancel the visa signature card? Need to write in and mail back the card...

Need to mail in cancellation form or call their hotline to cancel the card. Or you could just keep the card forever, since it's free for life (no annual fee) :s13:

wutawa · Jul 5, 2021

ducky32 said:
Need to mail in cancellation form or call their hotline to cancel the card. Or you could just keep the card forever, since it's free for life (no annual fee)

Oh if can call to cancel then not bad. I dont think free for life is practical. At least for my life. Rather, life refers to the bank's or even card type's. I have seen banks change policies many times, especially the recent years.

CrashWire · Jul 6, 2021

wutawa said:
I dont think free for life is practical. At least for my life. Rather, life refers to the bank's or even card type's. I have seen banks change policies many times, especially the recent years.

CIMB's cards have been no annual fee since at least 2013/2014: https://forums.hardwarezone.com.sg/threads/cimb-visa-signature.4821826/

I think most card issuers use annual fees as a way to encourage people to spend for waivers. Their actual profit comes from every transaction that people spend on the cards, as well as late/finance charges.

EveMuffins · Jul 6, 2021

ducky32 said:
I believe so! On point 1 of the T&C, it says that this promotion applies to both new and existing customers who hold the account and card

does point 8 means if I have $10k each in both FastSaver and FastSaver-i accounts, I can only be entitled to 1%?

I won't be entitled to 2x1% even though I have both FastSaver and FastSaver-i accounts?

lzydata · Jul 6, 2021

EveMuffins said:
does point 8 means if I have $10k each in both FastSaver and FastSaver-i accounts, I can only be entitled to 1%?

I won't be entitled to 2x1% even though I have both FastSaver and FastSaver-i accounts?

Yes:

8. For the avoidance of doubt, a Customer will be entitled to a maximum of one CIMB FastSaver Savings Account for Bonus Interest/Profit.

EveMuffins · Jul 6, 2021

lzydata said:
Yes:
8. For the avoidance of doubt, a Customer will be entitled to a maximum of one CIMB FastSaver Savings Account for Bonus Interest/Profit.

tks for the confirmation..I'll just top up one account then.

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